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Here’s how much the price of gold has jumped since January (and why you should invest now)

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The price of gold has broken numerous records since January 1, allowing investors to make a quick profit.

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For centuries, gold has been used as a form of currency and as a safe and effective way to protect your money. What the precious metal has generally not been, however, is an effective income-producing investment. Instead, it’s been a safe haven, particularly during times of inflation and economic turmoil, as has been the pattern in recent years. 

But the price of gold has surged so far this year, making some investors wonder about the unique income-producing feature of the metal right now. Is it worth investing in to turn a quick profit or are investors better served looking elsewhere? That’s what we will break down below, starting with an analysis of the price growth gold has seen so far in 2024. 

Learn more about the benefits of investing in gold now here.

Here’s how much the price of gold has jumped since January

The price of gold has grown significantly since January 1, breaking numerous price records in the first few months of the year. To start the year, gold was priced at $2,063.73 per ounce, according to American Hartford Gold. That cost has since risen by hundreds of dollars, with the precious metal now priced at $2,355.88 for the same amount of the metal (as of May 14, 2024). That’s just over a 14% rise in price. So if you had bought in at that opening price you would have potentially made hundreds (if not thousands) of dollars, depending on the amount you purchased and any markup you paid in the process.

But, if you didn’t buy low, you may still have an opportunity to get in and turn a rare profit. Because gold is known for its ability to hedge inflation (thanks to a steady price when other assets falter) and because inflation is still problematic (the next inflation report will be released on Wednesday), the demand for the metal is likely to remain strong — and the corresponding price will be competitive. Because of the timely benefits of gold investing, however, it may not make sense to delay, either. Instead, start exploring your top gold options now to learn more.

Get started here today.

Why you should invest in gold now

While the ability to turn a quick profit with gold is enticing, particularly for beginners, it’s not the only advantage the yellow metal offers investors. Here are two others to understand:

  • A hedge against inflation: As noted, gold tends to perform strongly when inflation is problematic. That’s due to its price resilience during these economic periods. The price of gold has risen after inflation reports were released in each of the first four months of 2024. And with the next inflation report scheduled to be released May 15, it would behoove investors to get started now before the price potentially becomes prohibitive.
  • A portfolio diversifier: Because gold tends to perform differently than traditional assets do, it’s considered a great way to diversify your portfolio. When added to a well-rounded portfolio, gold can help buffer against negative consequences felt elsewhere. To improve the effectiveness of gold as a diversifier, however, experts recommend limiting it to 10% or less of your overall portfolio.

The bottom line

With a growing price and the benefit of some protection against inflation, now is a great time to invest in gold. By acting now, investors could potentially turn a quick profit (a rarity in the gold investing market) and they can do so by effectively diversifying their portfolio at the same time. That noted, gold investing isn’t right for everyone, so it’s important to carefully consider the pros and cons of this unique asset before getting started.

Learn more here now.



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Biden’s top hostage envoy Roger Carstens in Syria to ask for help in finding Austin Tice

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Roger Carstens, the Biden administration’s top official for freeing Americans held overseas, on Friday arrived in Damascus, Syria, for a high-risk mission: making the first known face-to-face contact with the caretaker government and asking for help finding missing American journalist Austin Tice

Tice was kidnapped in Syria 12 years ago during the civil war and brutal reign of now-deposed Syrian dictator Bashar al-Assad. For years, U.S. officials have said they do not know with certainty whether Tice is still alive, where he is being held or by whom.

The State Department’s top diplomat for the Middle East, Barbara Leaf, assistant secretary of state for Near Eastern Affairs, accompanied Carstens to Damascus as a gesture of broader outreach to Hay’at Tahrir al-Sham, known as HTS, the rebel group that recently overthrew Assad’s regime and is emerging as a leading power.

Near East Senior Adviser Daniel Rubinstein was also with the delegation. They are the first American diplomats to visit Damascus in over a decade, according to a State Department spokesperson. 

They plan to meet with HTS representatives to discuss transition principles endorsed by the U.S. and regional partners in Aqaba, Jordan, the spokesperson said. Secretary of State Antony Blinken traveled to Aqaba last week to meet with Middle East leaders and discuss the situation in Syria. 

While finding and freeing Tice and other American citizens who disappeared under the Assad regime is the ultimate goal, U.S. officials are downplaying expectations of a breakthrough on this trip. Multiple sources told CBS News that Carstens and Leaf’s intent is to convey U.S. interests to senior HTS leaders, and learn anything they can about Tice.

Rubinstein will lead the U.S. diplomacy in Syria, engaging directly with the Syrian people and key parties in Syria, the State Department spokesperson added. 

Diplomatic outreach to HTS comes in a volatile, war-torn region at an uncertain moment. Two sources even compared the potential danger to the expeditionary diplomacy practiced by the late U.S. Ambassador Christopher Stevens, who led outreach to rebels in Benghazi, Libya, in 2012 and was killed in a terrorist attack on a U.S. diplomatic compound and intelligence post.

U.S. special operations forces known as JSOC provided security for the delegation as they traveled by vehicle across the Jordanian border and on the road to Damascus. The convoy was given assurances by HTS that it would be granted safe passage while in Syria, but there remains a threat of attacks by other terrorist groups, including ISIS.

CBS News withheld publication of this story for security concerns at the State Department’s request. 

Sending high-level American diplomats to Damascus represents a significant step in reopening U.S.-Syria relations following the fall of the Assad regime less than two weeks ago. Operations at the U.S. embassy in Damascus have been suspended since 2012, shortly after the Assad regime brutally repressed an uprising that became a 14-year civil war and spawned 13 million Syrians to flee the country in one of the largest humanitarian disasters in the world.

The U.S. formally designated HTS, which had ties to al Qaeda, as a foreign terrorist organization in 2018. Its leader, Mohammed al Jolani, was designated as a terrorist by the US in 2013 and prior to that served time in a US prison in Iraq. 

Since toppling Assad, HTS has publicly signaled interest in a new more moderate trajectory. Al Jolani even shed his nom de guerre and now uses his legal name, Ahmed al-Sharaa. 

U.S. sanctions on HTS linked to those terrorist designations complicate outreach somewhat, but they haven’t prevented American officials from making direct contact with HTS at the direction of President Biden. Blinken recently confirmed that U.S. officials were in touch with HTS representatives prior to Carstens and Leaf’s visit.

“We’ve heard positive statements coming from Mr. Jolani, the leader of HTS,” Blinken told Bloomberg News on Thursday. “But what everyone is focused on is what’s actually happening on the ground, what are they doing? Are they working to build a transition in Syria that brings everyone in?”

In that same interview, Blinken also seemed to dangle the possibility that the U.S. could help lift sanctions on HTS and its leader imposed by the United Nations, if HTS builds what he called an inclusive nonsectarian government and eventually holds elections. The Biden administration is not expected to lift the U.S.  terrorist designation before the end of the president’s  term on January 20th.

Pentagon spokesperson Pat Ryder disclosed Thursday that the U.S. currently has approximately 2,000 US troops inside of Syria as part of the mission to defeat ISIS, a far higher number than the 900 troops the Biden administration had previously acknowledged. There are at least five U.S. military bases in the north and south of the country. 

The Biden administration is concerned that thousands of ISIS prisoners held at a camp known as al-Hol could be freed. It is currently guarded by the Syrian Democratic forces, Kurdish allies of the U.S. who are wary of the newly-powerful HTS. The situation on the ground is rapidly changing since Russia and Iran withdrew military support from the Assad regime, which has reset the balance of power. Turkey, which has been a sometimes problematic U.S. ally, has been a conduit to HTS and is emerging as a power broker.

A high-risk mission like this is unusual for the typically risk averse Biden administration, which has exercised consistently restrained diplomacy. Blinken approved Carstens and Leaf’s trip and relevant congressional leaders were briefed on it days ago.

“I think it’s important to have direct communication, it’s important to speak as clearly as possible, to listen, to make sure that we understand as best we can where they’re going and where they want to go,” Blinken said Thursday.

At a news conference in Moscow Thursday, Russian President Vladimir Putin said he had not yet met with Assad, who fled to Russia when his regime fell earlier this month. Putin added that he would ask Assad about Austin Tice when they do meet. 

Tice, a Marine Corps veteran, worked for multiple news organizations including CBS News.



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Mangione appears in court on federal murder charges after being extradited to New York; EPA’s efforts to tackle pollution in disadvantaged communities could be under threat

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Delivering Tomorrow: talabat’s Evolution in the Middle East

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Delivering Tomorrow: talabat’s Evolution in the Middle East – CBS News


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From a startup to a transformative tech leader, discover how talabat champions innovation, sustainability, and community connections in the MENA region

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